FINANCIAL TECHNOLOGIES DEVELOPMENT TRENDS UNDER THE INFLUENCE OF THE PANDEMIC AND WAR
Abstract
The article discribes the importance and relevance of the research of theoretical and practical aspects of the development of financial technologies and their impact on the banking sector of Ukraine. It was determined that the implementation of financial technologies in the activity of banks significantly increases effectiveness of banks. The main prerequisites affecting the development of financial technologies in Ukraine have been identified. The peculiarities of the distribution of Fintech companies by areas of their activity in Ukraine in the pre-pandemic and post-pandemic period have been characterized. Technological infrastructure is the most popular area of activity of Fintech companies, after COVID-19 its share increases. The number of companies in the field of consumer credit increased significantly (twice), legal and insurance services, the activity of companies in the field of neobanking and cyber security have stayed on the same level as it was in 2020. The main trends in the development of financial technologies in the world and the development prospects for 2023 are described. Since the beginning of the war, the financial situation of Ukrainians has changed dramatically. The research results show a negative trend: today, the majority of respondents assess their financial situation as "low", although even at the beginning of the full-scale war it was at the level of "above average". All this is the effect of the war. Also, according to the study, although all lending fell after February 24, card loans contracted the least. In March and partly in April, there was a massive migration of the population from the war zone abroad. Demand for loans began to decline again in October, immediately after the first destruction of critical infrastructure. A further decrease in lending is expected. t is determined that the development of financial technologies in Ukraine was carried out under the impact of the war, as a result of which certain areas of technology became special relevance and demanded in comparison with the global pace of development. The Ukrainian regulator's specialists will develop regulations for the implementation of new laws: about financial services and financial companies, about insurance.
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